Posted 4.12.13 @ 12:35
What is an exclusive listing? Does it benefit buyers, sellers, or the brokers? Often an exclusive listing is just a way to make sure that you don’t “step out” on your realtor; after all, this works hard to sell your home, they’re going to want to protect themselves. In the end, an exclusive listing also motivates your agent to sell your property quickly, this can be a good or bad thing depending on the situation. Here we’re going to talk about everything you need to know to understand these listings, how they work, and if they right for you. Let’s get started!
What Does Exclusive Mean?
An exclusive listing is not listed on the MLS, but instead by a certain realtor or brokerage. You’ll be able to sell your home without letting people know that your home is for sale; you won’t have to deal with messy open houses or worrying about the world peeking inside your oven.
For some, this is the best option. Depending on your contract the realtor may hold exclusive rights to the sale for a period of time; they could earn a commission whether or not they’re still representing you (if you work for a bad realtor for example and do all the leg work on your own, they’d still get paid.) This is why it’s important to do your research before you choose your realtor.
So That Means They Don’t Actually Just Work For The Seller?
They’ll still work for you – but if you have to do the hard work on your own, they’ll still get paid. this is just one of the many dangers you can face when you work with the wrong realtor. Do your research before you hire anyone, even if you hire us!
The MLS Helps Sell Homes
Another downside of an exclusive listing is that it’s not listed on the MLS. The MLS, the Multiple Listing Service, is important if you want to sell your home. Other realtors use the MLS to find homes to show their clients; if they don’t know it’s there, and they’re going to build a show it. If it doesn’t show up in the big sites, it may as well not even exist.
The MLS features homes across Canada, but listings can only be created by authorized parties. This includes listing agents, realtors, and real estate agents. if your realtor can’t list your home on the MLS something’s wrong.
Which One Is Right For You?
Sometimes an exclusive listing can actually help you. If you’d like to keep your address or your sale secret, for example, are you worried about theft and exclusive listing can help you. Fewer buyers will see your home, but maybe you just don’t need that kind of exposure. Everyone is different after all, and we understand that.
If you’re not sure whether you’d benefit more from an exclusive listing or a MLS listing, give us a call! We’ll help you figure out which is best for your home.